No papers, no debt: Billions in student loans may be wiped out

Poor documentation is a major issue for a group of creditors trying to go after borrowers in default.

Creditors taking borrowers to court over loans in default are instead seeing the debt wiped out because of incomplete ownership records and other documentation, The New York Times reports.

Some of the problems playing out now in the $108 billion private student loan market are reminiscent of those that arose from the subprime mortgage crisis a decade ago, when billions of dollars in subprime mortgage loans were ruled uncollectible by courts because of missing or fake documentation. And like those troubled mortgages, private student loans — which come with higher interest rates and fewer consumer protections than federal loans — are often targeted at the most vulnerable borrowers, like those attending for-profit schools.

Source: No papers, no debt: Billions in student loans may be wiped out

Some Western Pennsylvania school districts face dilemma over unpaid lunch tabs | TribLIVE

The consequences of unpaid bills for school meals vary from district to district in Allegheny and Westmoreland counties, as well as elsewhere. But there is one action. Schools across the state and nation are now explicitly discouraged from taking to recover debt: humiliating or shaming students into paying.

Government Guidelines——-

A family of four making less than $31,980 per year qualifies for free meals or milk. A family of four making between $31,981 and $45,510 per year is eligible for reduced-price meals.

The figures are slightly higher than the 2016-17 guidelines.

Source: Some Western Pennsylvania school districts face dilemma over unpaid lunch tabs | TribLIVE

 

Chatham opening new small business center for women | Pittsburgh Post-Gazette

Chatham University is opening a new center for women business owners that will include a hands-on design lab for makers, digital training and financial literacy programs.

The new Entrepreneurship Hub will be housed at Chatham’s Eastside building on Penn Avenue near Bakery Square.

Funding totaling more than $250,000 is being provided by the Claude Worthington Benedum Foundation, the PNC Foundation and Google.org.

Source: Chatham opening new small business center for women | Pittsburgh Post-Gazette

Coaches fired after taking school bus on a ‘beer run’ | WPXI

TISHOMINGO, Okla. – Two high school basketball coaches in Oklahoma have been fired for using a school bus to make a beer run.
Tishomingo High School basketball players were attending camp at Connors State College.  Kyle Miller is one of the players and said, “It sort of just disappointed us all.”
A school board member confirms the boys’ basketball coaches were fired for using a school bus drive to a local convenience store to purchase alcohol.
“We noticed that the school bus was gone but he had told us to stay in our dorms and so we proceeded to do that and we just didn’t find anything out until the next day,” said Miller.

Source: Coaches fired after taking school bus on a ‘beer run’ | WPXI